If two-million-strong Slovenia’s plans fail to convince, it faces becoming the sixth member of the 17-nation eurozone to need assistance after Greece, Ireland, Portugal, Spain and Cyprus.
bertb news feed
The EU commission is “aware” that a bailout agreed with the Spanish government means thousands of people will never get their savings back, but says it it is up to courts to help the conned depositors
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In most nations you pay to become a citizen, but in Cyprus you loose money! President Anastasiades said foreign investors who held deposits prior to 15 March, and who lost at least 3m euros would be eligible to apply for Cypriot citizenship.
bertb news feed
Cypriot politicians have reacted with fury to news that the crisis-hit country will be forced to find an extra â¬6bn to contribute to its own bailout, much of which is expected to come from savers at its struggling banks.
bertb news feed
I wonder how much the will be getting. But to be perfectly clear, this too isn’t a bailout of a southern EU nation, most of this money will be going to a Northern European bank.
bertb news feed
Details of the memorandum of understanding (MoU) that Cyprus has to sign with the troika as part of its 10-billion-euro bailout were leaked to the media.
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A draft bailout agreement between Cyprus and the troika, which was published in the Cypriot daily Phileleftheros on Monday, foresees the exploitation of offshore hydrocarbon deposits as part of an economic reform program aimed at putting the country back on the path to fiscal health
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Government bond rates in Slovenia soared from 1.2per cent to 4.26per cent
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Lee Buchheit, sovereign debt guru and architect of Greece’s bailouts, tells Bloomberg Law’s Lee Pacchia that despite the drastic measures taken, the endgame for Cyprus might be another round of restructuring.
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Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe’s single currency by propping up failing banks, a senior eurozone official has announced.
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